Restrictions have been imposed on the bank accounts that legal entities can open.

The Communiqué on Amendments to the Communiqué on Supporting the Conversion of Turkish Lira Deposit and Participation Accounts (No: 2021/14) (“TL Participation Account Communiqué”), the Communiqué on Amendments to the Communiqué on Supporting the Conversion from Gold Accounts to Turkish Lira Deposit and Participation Accounts (No: 2021/16) (“Gold Account Communiqué”), the Communiqué on Amendments to the Communiqué on Deposit and Participation System (YUVAM) Accounts for Citizens Residing Abroad (No: 2022/7) (“Yuvam Account Communiqué”), and the Communiqué on Amendments to the Communiqué on Bringing Physical Assets in Gold into the Financial System (No: 2022/11) (“Physical Gold Assets Communiqué”) published in the Official Gazette dated 15 February 2025, and numbered 32814 (collectively referred to as “Communiqués”) have introduced significant changes regarding the accounts that legal entities and persons residing abroad can open.

According to these changes:

• TL Participation Account Communiqué: Legal entities residing domestically have been excluded from the scope of the TL Participation Account Communiqué, which regulates the procedures and principles for converting the foreign currency deposit accounts and foreign currency participation funds of domestic real persons into Turkish lira time deposit and participation accounts. Thus, the conversion of foreign currency deposit accounts and participation funds of legal entities into Turkish lira time deposit or participation accounts has been prevented.
• Gold Account Communiqué: Legal entities residing domestically have been excluded from the scope of the Gold Account Communiqué, which regulates the procedures and principles for converting the gold deposit and participation fund accounts of domestic real persons into Turkish lira time deposit and participation accounts. Thus, the conversion of gold accounts of legal entities into Turkish lira time deposit or participation accounts has been prevented.
• Yuvam Account Communiqué: The definition of persons residing abroad has been added to the Yuvam Account Communiqué, which regulates the procedures and principles for converting the foreign currency deposit accounts and foreign currency participation funds opened with documents proving that the funds were transferred from abroad or brought in cash into YUVAM accounts. This has clarified the definition of individuals who can benefit from the system, and foreign nationals who have been granted a blue card have also been included in the system.
• Physical Gold Assets Communiqué: The definition of conversion price has been added to the Physical Gold Assets Communiqué, which regulates the procedures and principles for converting the physical gold assets deposited by domestic real persons through authorized jewelers and refineries or directly in bank branches into Turkish lira deposit and participation accounts. The definition of domestic legal entity has been removed. Thus, domestic real persons have been granted the right to participate in all information systems created by authorized refineries, used by authorized jewelers and banks, and in gold collection systems carried out by experts appointed by authorized refineries at bank branches.

With the Communiqués, the right of legal entities to participate in the relevant account systems has been prevented, and it has been regulated that they cannot benefit from these accounts and systems.

The Communiqués have come into force as of the publication date and are being enforced by the President of the Central Bank of the Republic of Türkiye.